Companion Animal Diagnostic Market 2018: Exploration on Eminent Players | IDEXX Laboratories, Abaxis, Heska Corporation, Neogen, Zoetis, Thermo Fischer Scientific, Randox, Qiagen, Virbac

Companion Animal Diagnostic Market size was valued over USD 1,871.1 million in 2017 and is expected to witness more than 7.9% CAGR from 2018 to 2024.

Growing trend of adopting pet animals across the globe in the last few years will drive the companion animal diagnostics market over the forecast timeframe. Growing pet adoption along with rising disposable income spent considerably on pet care will positively impact market growth. According to European Pet Food Industry Statistics, there were around 75 million pet owning homes in Europe in the year 2014. Thus, increasing adoption of pets leads accelerates demand for advanced pet products thereby fuelling market growth.

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Some of the leading players in the companion animal diagnostic market are :-

• IDEXX Laboratories
• Abaxis
• Heska Corporation
• Neogen
• Zoetis
• Thermo Fischer Scientific
• Randox
• Qiagen
• Virbac

These companies focus on strategic decisions to increase the research and development investment in order manufacture superior quality medicines. Merger and acquisitions have also increased the capabilities of the companies and increased their efficiency to sustain in the market by providing better diagnostic solutions.

Dogs and cats have been a major source of human infections by zoonotic pathogens such as bacteria, fungi and parasites. There have been numerous efforts undertaken by domestic governments and various organizations to reduce prevalence of animal derived human infection. Around 320,000 people in Euhost-rope suffer from food borne zoonotic disease every year as per European Food Safety Authority. The increasing prevalence of food borne, and zoonotic diseases has stimulated demand for advanced animal diagnostic solutions thereby propelling industry growth.

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Low out of pocket expenditure on companion animals’ healthcare will be one of the major market impeding factor. Low out of pocket expenditure have severe consequences on healthcare admittance and consumption leading to decline in demand for diagnostic products, hampering the growth of companion animal diagnostic market.

Immunodiagnostic companion animal diagnostic market accounted for USD 428.5 million in the year 2017. The immunodiagnostic tests have been used frequently in diagnosis of various diseases such as Echinococcus multilocularis, Taenia solium and Wuchereria bancrofti. Frequent introduction of new diagnostic tests in the market along with rising spending on pet care will drive immunodiagnostic segment growth in the forthcoming years.

Hematology companion animal diagnostic market will witness robust growth at a CAGR of 8.0% during the forecast timeframe. Several hematology techniques are used to access and diagnose common hematological disturbances in veterinary animals. Hematology consists of complete blood count (CBC), one of the most common blood test performed on pets. CBC gives results for hydration status, clotting ability of blood, anemia infection and ability of immune system to respond will stimulate demand, thereby fueling industry growth.

Dog diagnostic market was valued over USD 722.7 million in the year 2017. Growing trend of pet adoption and humanization, increasing urbanization and rising affluence in emerging economies propels industry growth. Furthermore, increasing research and development for quicker launch of first-in-line drugs thus contributing to significant growth in animal diagnostics market.

Cat diagnostic market will show considerable amount of growth at a CAGR of 7.9% during the projection period. The population of traditional companion animals, especially cats, has increased due to the willingness of owners to care more for their animals’ health and ability of veterinarians to cure diseases are major aspects fueling animal diagnostics market growth.

France dominated the European companion animal diagnostic market in the year 2017 and was valued over USD 92.7 million. France accounts for high adoption of pet population, thereby stimulating demand for companion animal diagnostics to control prevalence of zoonotic diseases. According to IFAH Europe, every one out of two houses in France has at least one companion animal. Continuous innovation and frequent introduction of new biologics positively impacts market growth.

China companion animal diagnostic market is estimated to grow at substantial rate at 11.1% over the forecast timeframe. Escalating demand for animal products in China along with high demand for animal source food drives China’s companion animal diagnostics market. Growing trend of adopting pet further fuels the demand for animal diagnosis. According to the World Veterinary Association report 2015, in China pet ownership is growing fast thus it is anticipated to boost companion animal diagnostics market growth.

Report Content

Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Unpaid Sources
1.4.1.2. Paid Sources
1.4.2. Primary

Chapter 2. Executive Summary
2.1. Companion animal diagnostic industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Companion animal type trends
2.1.4. Regional trends

Chapter 3. Companion animal diagnostic Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Growing trend of adopting pet animals
3.3.1.2. Rising prevalence of food borne and zoonotic diseases
3.3.1.3. Favorable government initiatives
3.3.1.4. Rapidly increasing demand for companion animal products in Asian countries such as China, Korea, Japan, and Vietnam
3.3.2. Industry pitfalls & challenges
3.3.2.1. Prohibitive cost associated with companion animal tests
3.3.2.2. Low out of pocket expenditure on pet healthcare in developing countries
3.4. Growth potential analysis
3.4.1. By technology
3.4.2. By companion animal
3.5. Regulatory landscape
3.5.1. U.S
3.5.2. Europe
3.6. Technology landscape
3.6.1. U.S.
3.6.2. Europe
3.7. Reimbursement scenario
3.7.1. PCR
3.7.2. ELISA
3.8. Diagnostic biomarkers
3.8.1. Immunodiagnostic biomarkers
3.8.2. Inflammatory biomarkers
3.8.3. Cardiac biomarkers
3.9. Porter’s analysis
3.10. Competitive landscape, 2017
3.10.1. Business overview
3.10.2. Revenue analysis
3.10.3. Product landscape
3.10.4. Strategy dashboard
3.11. PESTEL analysis

Chapter 4. Companion Animal Diagnostic Market, By Technology
4.1. Companion animal diagnostic market share, by technology, 2017 & 2024
4.2. Immunodiagnostics
4.2.1. Market size, by region, 2013 – 2024 (USD Million)
4.2.2. ELISA
4.2.2.1. Market size, by region, 2013 – 2024 (USD Million)
4.2.3. Lateral Flow Assays
4.2.3.1. Market size, by region, 2013 – 2024 (USD Million)
4.2.4. Immunoassay analyzers
4.2.4.1. Market size, by region, 2013 – 2024 (USD Million)
4.2.5. Others
4.2.5.1. Market size, by region, 2013 – 2024 (USD Million)
4.3. Clinical biochemistry
4.3.1. Market size, by region, 2013 – 2024 (USD Million)
4.4. Hematology
4.4.1. Market size, by region, 2013 – 2024 (USD Million)
4.5. Molecular Diagnostics
4.5.1. Market size, by region, 2013 – 2024 (USD Million)
4.5.2. PCR
4.5.2.1. Market size, by region, 2013 – 2024 (USD Million)
4.5.3. Microarrays
4.5.3.1. Market size, by region, 2013 – 2024 (USD Million)
4.5.4. Others
4.5.4.1. Market size, by region, 2013 – 2024 (USD Million)
4.6. Urinalysis
4.6.1. Market size, by region, 2013 – 2024 (USD Million)
4.7. Others
4.7.1. Market size, by region, 2013 – 2024 (USD Million)

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